Course Content
OVERVIEW OF MANAGEMENT
Definition and importance of management Functions of management Managerial roles Evolution of management thought Types of management environment
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PLANNING FUNCTION
Meaning and importance of planning Principles of planning Purpose of planning Types of plans Planning tools Process of planning Planning challenges Making plans effective Management by objectives
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ORGANIZING FUNCTION
Meaning and Importance of Organizing Structure and Designs of Organizations Principles of Organizing Process of Organizing Delegation Coordination Centralization and Decentralization Informal Organizations
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STAFFING FUNCTION
Meaning and Importance of Staffing Human Resource Planning Recruitment and Selection Training and Development Performance Management Reward Management Separation
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DIRECTING FUNCTION
Meaning and Importance of Directing Leadership Motivation Communication Group Dynamics Conflict Management
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CONTROLLING FUNCTION
Meaning and Importance of Controlling Elements of Control Characteristics of Effective Controls Control Process Role of Control in an Organization Tools of Controlling
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STRATEGIC MANAGEMENT
Overview of Strategic Management SWOT Analysis Strategy Formulation Strategy Implementation Strategy Evaluation
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EMERGING ISSUES AND TRENDS
Organization Culture Ethics and Social Responsibility Managing Innovation and Change Diversity and Inclusion Corporate Governance Globalization
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Principles and Practices of Management
About Lesson
  1. Keeps the focus on the goals and outcomes: It forces members of the organization to stay focused on the broad goals for which the organization was founded rather than getting lost in the maze of ordinary operations.
  2. Reduces risk and uncertainty: Planning enables a company to deal with uncertainty and change. Instead of leaving future occurrences to chance, an enterprise can forecast them and make adequate preparations with the help of planning.
  3. It gives you a sense of direction: Planning keeps a company from stumbling and avoids pointless actions. It focuses human efforts on projects that benefit the activity.
  4. Promotes creativity and innovation: Innovation and originality are necessary for a company’s long-term success and growth. Planning is forward-looking and allows a company to deal with technological and other changes.
  5. Contributes to coordination: With the support of an overall plan, the actions and efforts of many departments and divisions can be harmonized. The goal of planning is to establish a well-coordinated operation structure.
  6. Guides in decision making: Planning aids in making future-oriented decisions by serving as a criterion for evaluating many possibilities so that the optimal course of action can be chosen by forecasting the future.
  7. Operational efficiency: Planning ensures that available resources are used to their full potential. It allows things to happen that would not otherwise be feasible and improves an organization’s competitiveness by assisting it in identifying and exploiting opportunities.
  8. It makes control easier: Control is built on the foundation of planning. Plans serve as benchmarks for assessing performance.
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